According to the table pivots the Australian dollar is trading above the weekly pivot and above the 200 day moving average periods (blue). It increases the probability that the pair could continue rising until the third resistance 1.0563, weekly R3. A return to the level of the EMA 200 will be a good opportunity to buy back the pair. However, last week the pair could not overcome the resistance level of 1.0470. It is possible that there is a downward pressure at this level. The level that will provide a bullish rebound is 1.0351, at this level we can buy with objectives to the third weekly resistance. Therefore, we consider that the following signal will have validity for all this week.
1.0438 and 1.0400 are weekly and monthly pivot points for this week for AUD/USD.
Signals for December 03 - 08, 2012
Buy if it rebounds around 1.0351 with take profit at 1.0476 and 1.0525, stop loss is bellow (W_S1).
_____WEEKLY_____
Weekly - R3 = 1.0563
Weekly - R2 = 1.0525
Weekly - R1 = 1.0476
Weekly Pivot = 1.0438
Weekly - S1 = 1.0389
Weekly - S2 = 1.0351
Weekly - S3 = 1.0302
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0715
Monthly - R2 = 1.0601
Monthly - R1 = 1.0514
Monthly Pivot = 1.0400
Monthly - S1 = 1.0313
Monthly - S2 = 1.0199
Monthly - S3 = 1.0112